All times Wall Street hours
Monday- service PMI 9:45am, ISM non-manufacturing PMI 10am
Tuesday- EIA short term energy outlook 12pm
Wednesday- trade balance 8:30am, crude oil inventories 10:30am
Thursday- unemployment claims 8:30am
Friday- nothing
Looks like a quiet news week for the market the calm before the storm? As for trading I’m thinking Monday pullback a little then we test for 430 then pullback then retest 430 to see how long we can hold it. I imagine 437 people will start to short again anything close to 440. Next week we have FOMC on 6/14 along with PPI. Next week will be interesting we also have CPI the day before FOMC. This week will be driven by speculation on the coming week. The squeeze is still coming, if you’re upside down on your trade as a bear you have to make the decision, do you have the ability to wait this out or cover now before we go up more. To improve is to change; to be perfect is to change often. Life isn’t about waiting for the storm to pass, it’s about learning how to dance in the rain.
As always trade what’s in front of you good luck